Market participants weigh in on SEC’s proposed crypto regulations
The financial agency is scheduled to close public comments on its ‘Regulation Crypto Assets’ proposed in August.
The US Securities and Exchange Commission (SEC) is set to move forward with digital asset policies after Congress failed to pass legislation that would have established a framework for regulating cryptocurrency at the agency and across other parts of government.
On Tuesday, the SEC will close public comment on its ‘Regulation Crypto Assets,’ a set of rules proposed in August intended to create what the agency called a “clear and fit-for-purpose framework for certain investment contracts involving crypto assets.” Over the 60-day period, the agency gathered about 140 comments from interest groups and individuals on rules and regulations related to a proposed safe harbor that would prevent token issuers from being considered “investment contracts,” as well as exemptions for companies permitting offerings up to a certain amount.
The Markets in Crypto Assets (MiCA) Crypto Alliance, a group established to help organizations looking to implement the EU framework on digital assets, largely supported the SEC’s proposed changes to disclosure requirements. The alliance recommended specific amendments to have the SEC better define “concepts and data structures specific to crypto assets and the disclosure requirements.”